Over half of Ukraine’s population lives below poverty level

Photo: politnavigator.net

Nearly 60% (58.3%) of the population in Ukraine lives below the poverty line, according to data of the M.V. Ptukha Institute of Demography and Social Surveys, the National Academy of Science of Ukraine.

In 2015, this indicator was half as much – 28.6%. “The poverty index has increased twofold along with the actual cost of living,” says Svetlana Polyakova, the leading research fellow at the Living Standard Department at the Demography Institute. “In addition, within the past year, we saw a growth of the poverty level defined by the UN criteria for estimation of internationally comparable poverty line in Central and Eastern Europe.”

The highest poverty line was registered among the families having at least one child – 38.6% and pensioners – 23%. The situation may deteriorate this year. According to the State Service of Statistics, savings of Ukrainians in April-June fell by 5.297billion hryvnias (more than $200 million at the current exchange rate).

The cost of living in Ukraine in 2016 makes up 1,544 hryvnias (about $60).

Earlier, Prime Minister of Ukraine Volodymyr Groysman said the previous policy of populism and “money printing and distribution to people” made the country weaker and the people poorer.